WHO IS PIERRE & VACANCES?

• A French company specialising in the development and management of holiday properties and resorts founded in 1967
• Quoted on the Paris Stock Exchange since 1999
• Developer, promoter and tourist manager of its own properties
• Manages today over 50,000 houses and apartments and over 230,000 beds in six European countries on behalf of private and institutional investors
• A company with an annual turnover of 1.2 billion Euros;
• Welcomes 6.6 million tourists per year in 250 resorts in Europe (52% European, 48% French)
• A brand name renowned for the quality of the locations, architecture, landscaping and interior decoration of its properties
• Expert in holiday management, including entertainment, sports and leisure facilities, restaurants, boutiques, kids’ clubs, and all on-site services.

Freehold leaseback with guaranteed return
Hassle free property investments
More than 40 years of experience
No maintenance or management fees
Up to 19.6% VAT rebate

You become the freehold owner of a top-class furnished property.
You become the freehold owner of a furnished property and sign a nine-year leaseback agreement with Pierre & Vacances, renewable for a second 9 year term. In Spain, the leaseback agreement is ten years, renewable once.


·  You can holiday in your property or numerous other P&V resorts.
As an added benefit, Pierre & Vacances offers you the choice of over 200 destinations, so you could stay in the Alps in Avoriaz, for instance, or on the French Riviera in Cannes instead of where you have bought your property. A dedicated, efficient team is at your disposal to answer your enquiries and meet all your expectations.


·  You are guaranteed an indexed rent net of maintenance and management charges (excluding property tax).
Pierre & Vacances, the leading French property leaseback specialist, takes care of your home, all maintenance and hassle and guarantees you a net return on your property for up to 18 years. The Leaseback agreement in Spain is ten years, renewable once, so P&V actually guarantees you net return for up to 20f years.
This return is net of maintenance and management charges. It's index-linked to the IRL in France (rent increase rate), to the cost of construction in Italy and to the CPI (Consumer Pricing Index) in Spain. So, each year, your yield should actually increase, making it easier for you to repay your mortgage.

·  You are reimbursed the VAT at time of acquisition.
When you invest in a Residence de Tourisme in France, the government reimburses you the VAT on your property over a 20-year period. This scheme was created in the 1970's to encourage professionally managed buy-to-let investments in order to promote tourism and has been working since. You benefit from the same VAT rebate on Spanish properties, but with a 10 year amortisation period.
Instead of claiming the VAT rebate from the tax authorities over a 20-year period, Pierre & Vacances pre-finances it for you, thus reducing the amount of capital necessary to buy your property. This results in a significant savings on the purchase price.
You therefore actually pay a VAT-free price for a property that the market values at VAT inclusive prices. Simply stated, you save up to 19.6%.

·  You have no management worries: no maintenance, search for tenants, unpaid bills.
Once you become the freeholder of your property, you sign a management agreement with Pierre & Vacances, which becomes your exclusive tenant. In exchange, Pierre & Vacances guarantees your annual rental payments.
You have no worries about day-to-day management responsibilities: no need to look for tenants or pay an intermediary, pay utilities, deal with maintenance issues, search and pay for insurance, etc.

You are not exposed to fluctuations in the tourist market as returns are guaranteed irrespective of occupancy.

There are no excessive administrative constraints.
Pierre & Vacances is responsible for the maintenance and the management of your property, so you will have none of the hassles typically associated with property ownership and, at the same time, you can rest assured that your property is being looked after by the European leader in the development and management of holiday properties.

WHAT IS A P&V LEASEBACK?

• The acquisition of a fully furnished freehold property developed for holiday purposes which is leased back to P&V, the management company, for a minimum of nine years. The VAT portion of the price is refunded as an investment incentive from the government and the owner receives annual guaranteed returns
• A concept where owners can add a holiday option into their investment scheme.

WHY INVEST IN A P&V LEASEBACK PROPERTY?

FINANCIAL INCENTIVES

• Annual rent is guaranteed, whether your apartment is let or not
• Rental return is index linked to inflation1 and is net of all running charges and costs, except property tax. P&V pays maintenance and community charges, insurance and utilities
• VAT rebate2 is pre-financed by P&V. Your investment return is thus based on the price of the apartment + furniture and fittings, exclusive of VAT, which is amortised over 10 or 20 years.3
  HASSLE FREE
• No maintenance or management costs
• No exposure to fluctuations in rental demands and no need to find rental tenants.
  YOU INVEST IN MORE THAN JUST AN APARTMENT
• The acquisition of a house or apartment within a meticulously planned development with a host of exclusive facilities: swimming pool, sports areas, kids’ club, restaurants and bars.
  HOLIDAY STAYS
• A myriad leaseback options are available to suit your personal needs:
• Holiday stays with reduced annual income
• Full annual income without holidays
• A combination of the two.

WHY INVEST IN LEASEBACK PROPERTY WITH P&V?

• P&V is the pioneer of the leaseback concept with the creation of the first car-free ski resort in Avoriaz in the 60’s and has been the market leader for 38 years. Your investment is secured by the proven financial strength of the Group and its ability to pay returns during the leaseback period;
• The widest choice of leaseback properties throughout France, Spain and Italy, from the French Alps to Paris, from the French Riviera to the Costa del Sol, from Barcelona to Sardinia;
• The European leader’s guarantee of a hassle free investment. P&V manages the resort and pays you annual rent for your apartment;
• P&V maintains your property to very high standards throughout the leaseback period;
• Long-term security thanks to prime locations, superior architecture and quality infrastructure, coupled with a minimum nine year leaseback contract, renewable for a further nine years;
• The support of a P&V European network for the re-sale of your property to a worldwide market;
• The possibility to holiday in other resorts within the P&V Group throughout Europe at preferential rates.4 Tax and mortgage conditions vary depending on the country in which you reside and invest. Rental returns depend on the acquisition formula you choose.
• Please consult us for the specific conditions that apply to you.
  1. The index is “Cost of Construction” in France, Consumer Pricing Index (CPI) in Spain, and 75% of CPI in Italy.
  2. VAT rebate differs in France and Spain and depends on whether the property is a new-build or a refurbishment. There is no VAT rebate in Italy.
  3. VAT is amortised over 10 years in Spain and 20 years in France.
  4. Preferential rates apply to the “pure investment” acquisition formula as there is no cost for holidays (excluding administration fees) if a formula with holiday stays is chosen.